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FIFA Introduces NFT Collection for 2023 Club World Cup

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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The Fédération Internationale de Football Association (FIFA), the global governing body for soccer, is set to release its own nonfungible token (NFT) collection in anticipation of the 2023 Club World Cup in Saudi Arabia. This launch is being undertaken in partnership with blockchain company Modex.

FIFA announced on December 11 that the initial release, scheduled for December 15, will include 100 NFTs. These NFTs will offer unique opportunities, such as securing FIFA World Cup 2026 final tickets. Additionally, FIFA will issue 900 other digital collectibles on the Polygon network and OpenSea this month. These collectibles will encapsulate memorable moments from the ongoing tournament and digital memorabilia versions.

The FIFA Club World Cup, which starts on December 12 in Jeddah, Saudi Arabia, features seven top football teams worldwide, including the champions of FIFA’s six confederations. The NFTs will be accessible on FIFA’s dedicated platform, FIFA+ Collect, launched in September 2022 and powered by Algorand.

Francesco Abbate, CEO of Modex, expressed enthusiasm about the collaboration: “Digital collectibles increase how fans can interact with their favorite players, teams, and the game they love, and we’re honored to support FIFA in realizing this goal.”

The FIFA+ Collect platform has already facilitated 11 NFT drops, with 909,255 digital collectibles minted and 16,448 holders. So far, the platform has generated a total trading volume of $2.4 million across primary and secondary NFT markets. However, it is important to note that the mint volume figures may not accurately reflect the market, as FIFA+ Collect Info cannot differentiate between packs obtained for free in challenges and those purchased with USDC.

The introduction of this NFT collection by FIFA signifies a melding of the worlds of sports and digital assets, offering fans new ways to connect with the sport and its iconic moments.